Transformation of the existing Fast Track Business Activation Mechanism into a Business Facilitation Unit for facilitating companies that are active or wish to be active in Cyprus

Main Responsibilities

• Provision of Services for setting up businesses:
• Company registration, name approval
• Registration in the Social Insurance Register
• Registration in the Tax/VAT Register
• Guidance/information on the necessary licenses to operate in Cyprus
• Accelerate the issuance and renewal of residence and employment permits

√ Central Contact Point for business – direct and streamlined assistance

√ Digitization of procedures

√ Online Platform

The “Business Facilitation Unit (BFU)” operates under the auspices of the Ministry of Energy, Commerce and Industry as of the 1st of January 2022. The Unit is the single point of contact for foreign companies wishing to commence or expand their operations in Cyprus. The purpose of the new unit will be the fast and efficient processing of such requests. Among other services, the Unit provides the ability to complete all registrations for the establishment of a business at its own One-Stop Shop section. What is more, we guide you through the necessary permits for the establishment and operation of your envisaged business and register eligible organisations in the Register of Companies of Foreign Interests; now kept and maintain by the Unit.

For more information please visit the Business Facilitation Unit website.